Central Florida Real Estate Weekly Market Report: September 3 - September 9, 2023

The weekly sales of single-family homes decreased from the prior week and remains lower than the same week last year (346 vs 390). Sales activity for 2023 has been running consistently lower than 2022.

The median sale price of single-family homes for the week is $425,000, which is the same as the prior week. For the same week in 2022, the median sale price was $410,750.

The inventory of single-family homes currently sits at 4,593. The inventory of single-family homes has been trending up since the week of April 23, 2023. This week last year, the inventory of single-family homes was 5,092.

The days of inventory, or absorption rate, has increased from the prior week. The absorption rate is a function of the current inventory of single-family homes divided by the average number of daily sales. The result tells us home many days it will take to sell the inventory available on the market. There is currently 93 days of inventory compared to 91 days last year. This increase is due to the combination of decreased sales and increased inventory.